Halyk Bank buys some of Sberbank subsidiary's loans in Kazakhstan
A general view of the headquarters of the Halyk Bank in Almaty, Kazakhstan, February 16, 2016. REUTERS/Shamil Zhumatov
Register now for FREE unlimited access to Reuters.com
April 13 (Reuters) - Kazakhstan's Halyk Bank (HSBK.KZ) has bought 330 billion Kazakh tenge ($732.1 million) of Sberbank's (SBER.MM) loan portfolio in Kazakhstan, the banks said in a joint statement on Wednesday.
"For clients it will take the form of a painless transfer to another bank. For our partner bank this is an opportunity to increase its loan portfolio.
"We, in turn, will get additional liquidity required to meet the needs of our clients from this deal," Yeldar Tenizbaev, head of Sberbank Kazakhstan, said in the statement.
($1 = 450.75 Kazakh tenge)
Register now for FREE unlimited access to Reuters.com
Reporting by Reuters; editing by Jason Neely
Our Standards: The Thomson Reuters Trust Principles.